Amazon.com’s (AMZN) “Buy” Rating Reiterated at Needham & Company LLC

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Thursday, AnalystRatings.com reports. They presently have a $3,700.00 target price on the e-commerce giant’s stock. Needham & Company LLC’s price objective indicates a potential upside of 12.83% from the company’s previous close.

Several other equities analysts have also weighed in on AMZN. Susquehanna Bancshares lifted their target price on shares of Amazon.com from $4,000.00 to $5,200.00 and gave the company a “positive” rating in a report on Wednesday, February 3rd. Wedbush reiterated an “outperform” rating and issued a $4,000.00 price objective (up previously from $3,900.00) on shares of Amazon.com in a report on Wednesday, February 3rd. The Goldman Sachs Group boosted their price objective on shares of Amazon.com from $4,200.00 to $4,500.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Benchmark boosted their price objective on shares of Amazon.com from $4,000.00 to $4,400.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Finally, MKM Partners boosted their price objective on shares of Amazon.com from $3,750.00 to $3,975.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Two equities research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the stock. Amazon.com presently has an average rating of “Buy” and a consensus price target of $3,930.67.

NASDAQ:AMZN opened at $3,279.39 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 96.03, a PEG ratio of 2.37 and a beta of 1.19. The firm’s fifty day simple moving average is $3,112.50 and its 200 day simple moving average is $3,173.79. Amazon.com has a twelve month low of $2,011.15 and a twelve month high of $3,552.25.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Monday, February 1st. The e-commerce giant reported $14.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $7.05 by $7.04. The business had revenue of $125.56 billion for the quarter, compared to analyst estimates of $119.73 billion. Amazon.com had a net margin of 4.99% and a return on equity of 24.49%. The business’s quarterly revenue was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.47 EPS. On average, analysts predict that Amazon.com will post 34.59 earnings per share for the current year.

In other news, CEO David H. Clark sold 1,019 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $3,257.88, for a total value of $3,319,779.72. Following the completion of the sale, the chief executive officer now directly owns 1,452 shares of the company’s stock, valued at approximately $4,730,441.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Judith A. Mcgrath sold 340 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $3,328.35, for a total transaction of $1,131,639.00. Following the completion of the sale, the director now directly owns 1,984 shares of the company’s stock, valued at $6,603,446.40. The disclosure for this sale can be found here. 16.10% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Trust Asset Management LLC lifted its stake in Amazon.com by 81.3% during the third quarter. Trust Asset Management LLC now owns 2,123 shares of the e-commerce giant’s stock valued at $6,685,000 after purchasing an additional 952 shares during the last quarter. Ironwood Wealth Management LLC. lifted its stake in Amazon.com by 6.3% during the third quarter. Ironwood Wealth Management LLC. now owns 67 shares of the e-commerce giant’s stock valued at $211,000 after purchasing an additional 4 shares during the last quarter. Walkner Condon Financial Advisors LLC acquired a new stake in Amazon.com during the third quarter valued at approximately $337,000. United Bank lifted its stake in Amazon.com by 11.0% during the third quarter. United Bank now owns 1,150 shares of the e-commerce giant’s stock valued at $3,621,000 after purchasing an additional 114 shares during the last quarter. Finally, Transcend Wealth Collective LLC acquired a new stake in Amazon.com during the third quarter valued at approximately $9,106,000. 56.39% of the stock is owned by institutional investors.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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